This week, the Ontario Lottery and Gaming Company announced it had begun distributing casino revenue allocations to municipalities. Payment is for the first quarter of the current fiscal year, or between April 1, 2022 and June 30, 2022. A total of C$43,420,036 will be sent to 28 host communities, according to Crown.
OLG is a state – owned company that conducts and oversees land – based gaming properties, lottery games, online games, bingo offerings and electronic gaming offerings at charitable events in Ontario. And every quarter, the Crown Agency sends payments to communities that host casino properties. Allocation is based on the step-by-step scale of revenue at all locations.
Treasury Secretary Peter Bethlenfalvy noted that Crown Corporation’s offline gaming properties are the main source of income for the state. And in his words, they are once again delivering an important flow of money to the communities that host casinos through the Local Government Contribution Agreement. The money will now go to funding for essential programs and services across Ontario.
OLG shares a significant portion of casino revenue with the community, providing a significant economic impact on infrastructure development and job creation. The allocation to host communities is part of a commitment to the welfare of Ontario’s economy as 100% of Crown revenues are reinvested in state coffers.
Over the past seven years, service providers have invested more than C$1.8 billion in private-sector capital development in Ontario. And thanks to that investment, six new casinos have opened since 2017, and two more will open. And some of the money was used to expand operations across existing gaming facilities.
In April this year, OLG provided Ontario municipalities with fourth-quarter payments for fiscal year 2021-2022. The city of Niagara Falls, home to Casino Niagara Falls View Casino Resort, received a huge quarterly payment of C$2.9 million. Overall, in the fiscal year 2021-2022, the city brought in more than C$11.5 million from non-tax gaming revenue for hosting two premium gaming sites.
The City of Windsor also received a fair share for hosting Caesars Windsor Casino on its territory. The municipality collected C$1,010,143 for the period of January 1, 2022 and March 30, 2022. Over the past three quarters, the city has received about C$5 million in revenue, which will help the city’s vaults in the future.
BY: 파친코